SCHEDULE: Dragonfly Energy Insider Denis Phares Reports Reduced Stake Below 5%
Beneficial Ownership Update
Denis Phares, a key insider at Dragonfly Energy Holdings Corp., has filed an amended Schedule 13D indicating his beneficial ownership has fallen below the 5% threshold, triggering an exit filing.
Summary
- Denis Phares, the Reporting Person, directly owns 1,666,980 shares of Common Stock.
- Phares indirectly owns an additional 135,323 shares through the Phares 2021 GRAT, for which he serves as a trustee.
- As of July 31, 2025, the Reporting Person's aggregate beneficial ownership totals 1,802,303 shares, representing approximately 2.92% of Dragonfly Energy Holdings Corp.'s issued and outstanding Common Stock.
- The calculation is based on 61,724,470 shares of Common Stock outstanding as of July 31, 2025, as reported by the Issuer.
- Phares holds sole voting and dispositive power over all 1,802,303 beneficially owned shares.
- No transactions in Common Stock by the Reporting Person occurred since the filing of Amendment No. 5 (May 19, 2025) through the Event Date (July 31, 2025), nor in the 60 days prior to the Filing Date (August 1, 2025).
- This Amendment No. 6 serves as an exit filing, confirming that the Reporting Person ceased to be the beneficial owner of more than five percent of the Issuer's outstanding Common Stock.
Sentiment
Score: 5
Explanation: The filing is a factual report of a change in beneficial ownership below a reporting threshold, with no inherent positive or negative implications for the company's operations or financial performance.
Future Outlook
No forward-looking statements or guidance are provided in this filing.
Industry Context
This filing is a routine disclosure of an insider's beneficial ownership falling below a reporting threshold and does not provide broader industry context or trends.
Related Party Transactions
- Denis Phares indirectly owns 135,323 shares through the Phares 2021 GRAT, of which he is a trustee.
Stakeholder Impact
- Shareholders: The filing indicates a reduction in a key insider's reported beneficial ownership below the 5% threshold, which may be noted by investors tracking insider activity.
Key Dates
| Date | Description |
|---|---|
| 07/09/2021 | Date of the Phares 2021 GRAT |
| 10/12/2022 | Original Schedule 13D filing date |
| 02/06/2024 | Amendment No. 1 filing date |
| 11/21/2024 | Amendment No. 2 filing date |
| 01/06/2025 | Amendment No. 3 filing date |
| 02/28/2025 | Amendment No. 4 filing date |
| 05/19/2025 | Amendment No. 5 filing date |
| 07/31/2025 | Event date when beneficial ownership fell below 5% |
| 08/01/2025 | Filing date of Amendment No. 6 |
Keywords
Dragonfly Energy Holdings Corp., Denis Phares, Beneficial Ownership, Schedule 13D, Common Stock, Insider Ownership, SEC Filing, Exit Filing
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